Infosys- Ukulele & Ending Diagonal(Wedges)Cracks 1040 to 979

Last Price@982.50

Ukulele (A form of guitar) has so much similarity to Waves. Yes, that is correct.

If you want to learn Ukulele just concentrate on 4 strings because major pop songs are result of these 4 strings but before you want to learn Ukulele you need to have one.

There are 100’s of chords which is initimidating, but actually once you read the song book –you will realise these 4 chords are repated again & again.

These 4 chords are G- D- Em(E-Minor) & C- yes all done & you can sing a song. The real truth -You need some skills which can be developed over the time & one needs to have patience to learn a new thing.

Ending Diagonal

It either appears in 5th wave or C-wave to end the trend. These waves are choppy –In traditional analysis you call it wedge. Power of wedge.

How powerful these structures can be is just evident from the one identified at 1040-1042 zone in the previous update where Infy was struggling for so many days –created doubt to me that yes, It is not moving forward infact we have a risk of ending the structure at the current zone 1040-1042.

Already a triple top in the zone 1040-1045 was another reason to sell for this amazing downside trend- which I was confident.

What Next?
Likely if Infosys can sustain above 980 next – prior swing high where we sold yesterday at day high@1005 can act as resistance in next few sessions.

Selling at day high@1005- Crossing Bullet Train - 6th April2017

Trading Strategy
Scenario- Holding above 980 we shall look for 1003-1006 as resistance zone if holds, then we look for selling again for targets atleast for 979 or lower.

Have a nice weekend.

Trade active:

10:00 Hrs 10th April2017

Last Price@983

Day low below 980 -dipping below 980 & bouncing above is where Risk Takers can attempt to buy for 1000-1005 target zone with day low as stops.

Trade active:

11:22 Hrs 10th April2017

Last Price@980

980-983 is the challenge zone for Infosys so stable move upside above 982 we will think to buy or create any long positions. At current, closing this as well & waiting at sidelines.

Trade active:

11:56 Hrs 10th April2017

Last Price@977

Saved. Out in Time at 980.

Trade active:

13:58 Hrs 10th April2017

Last Price@965

Infy cracks & I was looking for a bounce to sell- which we got early morning till 989 but failed to capitalise the same.

Trade active:

15:00 Hrs 10th April2018

Last Price@958

Infosys -Give me Red- Unstoppable

Trade active:

17:53 Hrs 11th April2017

Last Price@967

From Yesterday's low@950- It opened sharp today & made high@972 -post that it was doing sideways whole day .

Moving above 972 next Infy can retest 980-990 zone- 986 is a prior key level for us where we come back again to see if that is the right place to sell or not.